Taiwan’s export order likely recovered in October

Taiwan's export order surprised the market by printing a solid growth of -4.5% yoy in September from -8.3% yoy in August. The solid rebound in export order is recovery in demand for electronics goods.

Manufacturing PMI reports from different institutions indicated new order PMIs has reached to their highest level in five months in October. Therefore, export orders of the economy are likely to have risen for the second consecutive month in October in a month on month basis.

On the other hand, the year on year export orders fall has probably contracted in October from 4.5% to 3.9%, estimates Societe Generale.